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Holt Warns of Spending Cuts, Sets Up Economic Plan After State of the Province

Mounting deficits are forcing trade-offs to fund priority services.

Overview

  • The premier said an economic development plan due as early as next week will identify where government spending will be reduced to finance growth and health priorities.
  • Officials reported an $834.7 million deficit in November, and Holt and the finance minister hinted the shortfall could be larger when updated.
  • Holt reported mixed progress on 15 government targets with 10 met, while primary-care access worsened to 72.5% with about 238,000 people unattached despite 10 new collaborative care clinics and a $270 million physician agreement set to take effect in April.
  • The forthcoming plan will focus on closing the productivity gap, attracting investment, and boosting exports beyond the United States, with proposed investments in ports, airports, high‑speed internet, a diversified energy mix, and an expanded Small Business Investor Tax Credit.
  • New Brunswick has joined a joint federal‑provincial environmental assessment process, which could accelerate reviews for resource projects such as the long‑delayed Sisson mine.